- Business Insider Africa presents the top 10 African countries with the highest economic growth prospects for 2024.
- This list is courtesy of the UN’s World Economic Situation and Prospects 2024,’ report.
- A focus on climate change and investments are keys to growing the world’s economy.
Top 10 African countries with the highest economic growth forecasts for 2024
GDP growth in Africa symbolizes more than just economic success; it is a pathway to sustainable development, reducing poverty, and improving the quality of life for millions of African folks. Fortunately, Africa has experienced varying degrees of economic expansion for some time, with many nations recording significant GDP growth rates.
Top 10 African countries with the highest economic growth prospects for 2024
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The ability of strong GDP growth to lower poverty may be its most direct effect. Growth in economies brings with it more work possibilities, raising income levels and living standards. In turn, this promotes a more fair allocation of income by helping individuals escape poverty.
According to the United Nations ‘World Economic Situation and Prospects 2024,’ report some African countries are set to fall into this category as they were given the highest economic growth prospects on the continent.
Recognizing the global struggle to record better milestones, the UN Secretary-General António Guterres, noted that increased investments and a focus on climate change are two major keys in growing the world economy.
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Fortunately, these are conversations that were very prevalent in 2024 as governments across the continent are looking to lay emphasis on these economic modulations.
"2024 must be the year when we break out of this quagmire. By unlocking big, bold investments we can drive sustainable development and climate action and put the global economy on a stronger growth path for all,” the UN Secretary-General said.
With that said below are the top 10 African countries with the highest economic growth prospects for 2024, according to the UN.
The baseline scenario forecasts is based in part on the UN DESA World Economic Forecasting Model.
Top 10 African countries with the highest economic growth prospects for 2024
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| Rank | Country | Real GDP growth projection 2024 | Real GDP growth 2023 |
|---|---|---|---|
| 1. | Senegal | 9.2 | 6.8 |
| 2. | Libya | 7.6 | 10.6 |
| 3. | Rwanda | 7.0 | 6.3 |
| 4. | Mauritania | 6.7 | 4.2 |
| 5. | Côte d’Ivoire | 6.4 | 6.2 |
| 6. | Democratic Republic of the Congo | 6.4 | 6.8 |
| 7. | Uganda | 6.1 | 4.9 |
| 8. | Tanzania | 5.9 | 5.0 |
| 9. | Ethiopia | 5.9 | 5.5 |
| 10. | Benin | 5.5 | 5.9 |
This is a Business Insider Article, for more articles like this, visit africa.businessinsider.com
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